class 3 eligibility bulletin · eligibility bulletin definition all improved real estate used for...

COOK COUNTY ASSESSOR

FRITZ KAEGI

COOK COUNTY ASSESSOR'S OFFICE

118 NORTH CLARK STREET, RM 320

CHICAGO, IL 60602

PHONE: 312.443.7550

WWW.COOKCOUNTYASSESSOR.COM

CLASS 3

ELIGIBILITY BULLETIN

Definition

All improved real estate used for residential purposes which is not included in Class 2 or in Class 9. This class includes all apartment buildings with more than six units.

Assessment Level

10 percent of fair market value in 2012.

Required Documentation for All Class 3 Appeals:

1. Real Estate Assessed Valuation Appeal Form2. Property Summary Sheet3. Owner/Lessee Verification Affidavit4. Field Check Request (must be requested within the 30 day appeal deadline as well as)

- Current Year Notarized Vacancy Affidavitand

- Current Year Rent Roll or Income

It is important that the petitioner provides square footage, type and number of apartments, sale price (within the last 5 years) and all other requested information on the above listed forms.

Please check to be certain that, where appropriate, documents are signed and notarized.

Additional Documentation Required (where applicable):

1. Appeals Based on Valuation:

a. Income and Expense information for each yearb. Three (3) years of Income and Expense Statements

It is preferred that these be audited statements certified by a public accountant orcopies of the Federal Income Tax returns relating to the property. It isacceptable, however, to file income and expense statements prepared in theordinary course of business. For example: IRS Schedule E or IRS Schedule8825.

c. Leases

Relevant: competent appraisal expressing an opinion of fair market value as of January 1 of the year in question and/or current year rent roll.

e. Witness Affidavitf. Utility Bills

An affidavit from the owner (notarized) which clearly states the use of the property.